- Prior 52.3
- Manufacturing PMI 50.2 vs 49.2 expected
- Prior 49.7
- Composite PMI 50.5 vs 51.8 expected
- Prior 52.2
Key Findings:
- UK private sector growth eases in November, while
output price inflation softens to 59-month low
Comment:
Chris Williamson, Chief Business Economist at S&P
Global Market Intelligence:
“November’s flash PMI surveys brought disappointing news on
the UK economy. Economic growth has stalled, job losses have
accelerated, and business confidence has deteriorated.
“The PMI is broadly consistent with no change in GDP in
November and a meagre 0.1% quarterly pace of growth so far in
the fourth quarter.
“Some of this malaise has been blamed on paused spending
decisions ahead of the Autumn Budget, but there’s a real
chance this pause may turn into a downturn. The drop in
confidence about the year ahead reflects growing concerns
that business conditions will remain tough in the coming
months, largely linked to speculation that further demand-
dampening measures will be introduced in the Budget.
“Concerns over the inflation outlook will meanwhile be further
assuaged by a marked drop in selling price inflation to the
lowest for nearly five years. Faced by weak demand and
intensifying competition, firms are cutting prices to win sales.
Prices charged for goods fell at the sharpest rate since 2016,
and service providers are likewise reporting much-reduced
pricing power
